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ECX, ECLIPX GROUP LIMITED
blacksheep
post Posted: Oct 8 2019, 02:15 PM
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In Reply To: blacksheep's post @ Aug 14 2019, 09:12 PM

Waxing Interest In EclipX
Small Caps | 1:45 PM
QUOTE
EclipX Group is reverting to focus on its core fleet and novated leasing businesses, and interest in the company is only expected to grow.

-Right2Drive, CarLoans remain the key non-core divestment opportunities
-Reduced likelihood of breaching debt covenants
-Takeover attraction likely to gain momentum


Broker targets - FWIW

QUOTE
There are four Buy ratings and one Hold (Morgan Stanley) on FNArena's database. The consensus target is $1.81, signalling 4.7% upside to the last share price. Targets range from $1.35 (Morgan Stanley) to $2.20 (UBS).

read more - https://www.fnarena.com/index.php/2019/10/0...rest-in-eclipx/
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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Aug 14 2019, 09:12 PM
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In Reply To: blacksheep's post @ Mar 21 2019, 11:45 AM

SP up 7.24% @ $1.555 following today's ann.....

QUOTE
ECLIPX COMPLETES THE SALE OF GRAYSONLINE AND AREYOUSELLING TO QUADRANT PRIVATE EQUITY

Further to the ASX release dated 5 July 2019, Eclipx Group Limited (ASX: ECX, “Eclipx”) today confirms
completion of the sale of GraysOnline and AreYouSelling to Quadrant Private Equity for an enterprise
value of A$60 million.


The net proceeds from these divestments will be applied to reduce Eclipx’s Corporate Debt facilities.

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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Mar 21 2019, 11:45 AM
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Posts: 6,791
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In Reply To: JSB's post @ Mar 21 2019, 08:09 AM

Sorry to hear. Noticed a short alert reported for yesterday - might suggest a bit more pain. Hopefully another white knight will come to the rescue, albeit at a lesser value. Good luck

QUOTE
Wed 20th Mar, 2019 1,636,419 319,636,693 0.51% 29,883,353 5.48%


https://www.shortman.com.au/stock?q=ecx




--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington

Said 'Thanks' for this post: JSB  
 
JSB
post Posted: Mar 21 2019, 08:09 AM
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In Reply To: blacksheep's post @ Mar 20 2019, 12:02 PM

Ouch indeed - I might be nursing this one for a while!


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blacksheep
post Posted: Mar 20 2019, 12:02 PM
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In Reply To: blacksheep's post @ Nov 8 2018, 11:36 AM

Ouch!!

QUOTE
Eclipx has resumed trading with a 54 per cent drop in the share price to 89 cents, wiping off $320 million from its market capitalisation.

Major shareholders like Yarra Funds Management, the largest shareholder with 9 per cent, Pendal Group, Vinva Investment Management, and Bennelong Funds Management are not going to like this result.

Up until this morning they thought they were going to get 0.1414 McMillan Shakespeare shares plus 46 cents cash for every Eclipx share in a new $2.14 billion company.

Meanwhile the market is rewarding McMillan Shakespeare for walking away from the Eclipx purchase with a 4.9 per cent rise to a four-week high of $13.37.

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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Nov 8 2018, 11:36 AM
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In Reply To: blacksheep's post @ Nov 8 2018, 10:12 AM

AFR "sources" correct - McMillan Shakespeare and Eclipx merger
Transaction highlights
QUOTE
McMillan Shakespeare Limited ("MMS", ASX: MMS) to merge with Eclipx Group Limited ("Eclipx", ASX: ECX) via
Eclipx scheme of arrangement

Scrip and cash: 0.1414 MMS shares and $0.46 cash offered for each Eclipx share held, implying a total value of
$2.85 per Eclipx share based on MMS’ last closing price of $16.90 on Wednesday, 7 November 2018

The consideration represents a 33.2% premium to Eclipx’s undisturbed price of $2.14 on Friday, 17 August 20181

Creates a leading Australian and New Zealand salary packaging and fleet management company

Approximately $50 million in EBITDA run-rate synergies per annum expected to be fully realised within three years
following full integration

Expected to be EPS accretive pre synergies

Three Eclipx directors to join the MMS Board

Mike Salisbury and Mark Blackburn to continue as CEO and CFO respectively

Senior management of both MMS and Eclipx to participate as Executives of the Combined Group

The scheme is expected to be implemented in Q1 2019

The merger is unanimously recommended by the Board of Eclipx, in the absence of a superior proposal and
subject to an independent expert concluding that the merger is in the best interests of the Eclipx shareholders

https://www.asx.com.au/asxpdf/20181108/pdf/...3p16vyjrwc5.pdf



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington

Said 'Thanks' for this post: JSB  
 

sentifi.com

Share Cafe Sentifi Top themes and market attention on:


blacksheep
post Posted: Nov 8 2018, 10:12 AM
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In Reply To: blacksheep's post @ Oct 4 2018, 12:04 PM

Currently in "Pause in Trading" - according to AFR "sources"...
Eclipx, McMillan Shakespeare ink merger deal: sources
Nov 8 2018 at 9:53 AM Updated 55 mins ago Sarah Thompson , Anthony Macdonald
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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington

Said 'Thanks' for this post: JSB  
 
blacksheep
post Posted: Oct 4 2018, 12:04 PM
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Posts: 6,791
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In Reply To: JSB's post @ Oct 4 2018, 09:37 AM

Nothing like t/o speculation to fuel a rise in the SP. Not all speculation ends in a positive manner, but this one seems to have some legs. AFR also mentioned .......

QUOTE
Of course the other potential suitor worth watching is McMillan Shakespeare.


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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington

Said 'Thanks' for this post: JSB  
 
JSB
post Posted: Oct 4 2018, 09:37 AM
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Posts: 181
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QUOTE
Street Talk understands there is a party in Eclipx's data room.

The most obvious candidate is spurned suitor SG Fleet, which has since had its bankers meet Eclipx, although other fleet managers are known to have acquisition ambitions of their own.

Eclipx declined to comment when contacted by Street Talk on Wednesday.


Takeover target Eclipx Group lays low as suitor circles


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blacksheep
post Posted: Oct 2 2018, 02:52 PM
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In Reply To: blacksheep's post @ Aug 22 2018, 02:52 PM

Updated chart and, FWIW, Morgan Stanley's revised target

QUOTE
Morgan Stanley rates ECX as Overweight

Morgan Stanley suggests the stock has rebounded on the back of SG Fleet's ((SGF)) offer at $2.52 a share. The broker suspects the bid was a catalyst for the market to ascribe value to Right2Drive and Grays.

Morgan Stanley values the core leasing business at $2.50 a share and now includes $0.50 a share for Right2Drive and Grays. The broker maintains an Overweight rating and raises the target to $3.00 from $2.50. Industry view is In-Line.


MS's target of $3.00 not far way from the $3.04 where it fell off the cliff

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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington

Said 'Thanks' for this post: JSB  
 
 


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